CO-OPERATIVE AND MUTUAL SECTOR POISED FOR FURTHER GROWTH AFTER STRONG YEAR: BCCM Source: arr.news, News Editor, First Published June 19, 2025 Australia’s co-operative and mutual sector has ambitions to emulate its UK counterpart’s planned doubling in size, after recording an 8.4 per cent increase in annual revenue. The latest National Mutual Economy Report (NME), published today by the Business Council of Co-operatives and Mutuals (BCCM), shows continued resilience by the sector against a backdrop of on-going global volatility and stabilising inflation. The top 100 co-operatives and mutuals posted revenue of $47.7 billion in the year to June 30, 2024, up from $44 billion in the previous year. Total revenue for the sector is now 38.6 per cent higher than in FY 2021, reflecting consistently robust growth during the post-Covid period and laying strong foundations for continued expansion. “Australia’s co-operatives and mutuals continue to demonstrate their resilience despite challenging conditions both globally and domestically, reinforcing the strength of this under-appreciated business model,” said Melina Morrison, Chief Executive Officer of the BCCM. “There is enormous potential for the sector to make an even greater contribution to a more competitive and productive economy, given appropriate regulatory settings and support from government. “Co-ops and mutuals are already delivering positive outcomes for members and their communities in a number of challenging areas, including affordable housing, aged care and disability support services, regional banking and agriculture. “We look forward to working with government and regulators to position co-ops and mutuals at the centre of the economic and social agenda, similar to the UK Labor Government’s initiative to double the size of its mutual sector,” Ms Morrison said. Co-operatives and mutuals have shown remarkable resilience in the face of economic headwinds, reinvesting surpluses locally and maintaining service delivery. Government should look to the business model to help stimulate economic growth amongst smaller Australian firms. Sectors targeted for growth like manufacturing and renewable energy could benefit from co-operatives as a vehicle to scale small and medium businesses. The top 100 features some of Australia’s biggest unlisted companies including West Australian grain handler CBH, health insurers HCF and HBF, motoring groups NRMA, RACQ and RAC as well as health and financial services group Australian Unity. The mantle of Australia’s largest co-op again went to CBH, which recorded turnover of $4.69 billion. CBH’s Chief Executive Officer, Ben Macnamara, said the outlook for the agricultural sector remained strong with a growing WA crop size and global demand for grain remaining strong. “At CBH, we’re seeing the benefits of sustained investment in supply chain efficiency and infrastructure. That said, volatility is a constant in our industry, whether it’s from global geopolitical tensions or market disruptions. “Despite this, we must continue to innovate alongside our grower members, remain cost-conscious and ensure that we’re delivering value back to our members, not just in strong seasons but in the tough ones too.” Steve Laidlaw, the chief executive of Australia’s largest customer Opening Lines 5 BUSINESS VIEW OCEANIA VOLUME 07, ISSUE 06
RkJQdWJsaXNoZXIy MTI5MjAx